Short Interest in NextTrip, Inc. (NASDAQ:NTRP) Declines By 65.9%

NextTrip, Inc. (NASDAQ:NTRP) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 35,633 shares, a drop of 65.9% from the July 15th total of 104,444 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 125,008 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NTRP shares. Ascendiant Capital Markets lifted their target price on NextTrip from $7.00 to $7.50 and gave the company a “buy” rating in a report on Wednesday, June 10th. Weiss Ratings lowered NextTrip from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.50.

NextTrip Stock Down 5.2%

NASDAQ NTRP traded down $0.08 during trading hours on Friday, hitting $1.46. The company had a trading volume of 50,142 shares, compared to its average volume of 74,687. NextTrip has a fifty-two week low of $1.46 and a fifty-two week high of $5.20. The company has a market capitalization of $22.03 million, a price-to-earnings ratio of -1.04 and a beta of 1.05. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.61 and a quick ratio of 0.61. The firm’s 50 day moving average is $1.91 and its 200 day moving average is $2.50.

NextTrip (NASDAQ:NTRP) last issued its quarterly earnings data on Wednesday, July 15th. The company reported ($0.22) EPS for the quarter, hitting analysts’ consensus estimates of ($0.22). NextTrip had a negative return on equity of 246.48% and a negative net margin of 289.92%. Sell-side analysts anticipate that NextTrip will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at NextTrip

In related news, Director David T. Jiang acquired 18,200 shares of the stock in a transaction dated Thursday, June 18th. The stock was bought at an average cost of $2.75 per share, with a total value of $50,050.00. Following the purchase, the director directly owned 1,582,157 shares of the company’s stock, valued at approximately $4,350,931.75. This represents a 1.16% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 44.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NextTrip

An institutional investor recently raised its stake in NextTrip stock. Geode Capital Management LLC grew its position in shares of NextTrip, Inc. (NASDAQ:NTRP) by 21.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,852 shares of the company’s stock after purchasing an additional 7,086 shares during the period. Geode Capital Management LLC owned approximately 0.29% of NextTrip worth $129,000 as of its most recent SEC filing. 3.81% of the stock is owned by institutional investors and hedge funds.

About NextTrip

NextTrip, Inc, through its subsidiaries, engages in the provision of travel technology solutions in the United States. The company offers NXT2.0, a booking engine technology platform, which provides travel distributors access to an inventory. It is also involved in the provision of online leisure travel agency services for booking hotels, flights, and curated vacations. The company was formerly known as Sigma Additive Solutions, Inc and changed its name to NextTrip, Inc in March 2024. NextTrip, Inc is based in Sunrise, Florida.